VVS Finance, also known as Very Very Simple Finance, would be the first farm over at Cronos Network. There has been much excitement over their initial fair launch — where one can only obtain their tokens through farming CRO/USD, CRO/ETH, CRO/BTC liquidity pairs at their farm.
Over the past month, Crypto.com has grown from strength to strength with their campaign #FFTB (Fortune Favours The Brave). Their initial roll out for its Cronos testnet in July has since facilitated 1.5 million, preparing them for their main net launch.
With their 10 million strong customer base, Crypto.com has started their mainnet roll out on 8 November 2021 where official bridges and the CRONOS Network goes live.
How to bridge to Cronos Network in preparation to Farm
Network: Cronos Chain
Chain ID: 25
The easiest method would be to send your $CRO through this option. There is a minimum of 0.4 $CRO to withdraw through the Cronos network, and it cost 0.2 $CRO for a $CRO withdrawal — no matter how big or small your withdrawal is. Similarly a quick check on $ETH withdrawal to Cronos network cost about 0.0001 $ETH. Pretty decent rates!
At the exchange, please ensure you select the Cronos Network when sending your $CRO tokens over, and not the “CRO” network which is the first option.
This is like Binance Smart Chain Network (being Cronos Network), and just Binance Chain Network (being CRO Network). Sending it to the “CRO” network would result in an additional fee (and work) to send it to the Cronos network again, the CRO network would also require a memo, which isn’t needed if you’re sending it to the correct Cronos Chain network.
VVS Finance Launch
It should be noted that one can only earn VVS Tokens through Farming, and that there are two incentivized pools — namely the CRO-ETH and CRO-WBTC with 20x multipliers when farming starts.
The regular pool with no incentive would be the CRO-USDC.
There was no private sale for VVS Finance tokens, and as a fair launch, the farmed token will purely be in the hands of the community, as there will be reduced selling pressure from “vested” VCs.
Being the governance token of the VVS Finance protocol makes it interesting to watch how the value would develop as more dapps come onto the ecosystem, as being the first CRO Farm would have high expectations from the community to perform as well.
$VVS adopts an emission model, where 50 trillion VVS will be produced the first year, halving every year thereafter (e.g. 25 trillion VVS second year), with emission rate of 2,853,881.28 VVS per block. The tokenomics do reward early users who farm as per their token release schedule below.
As more decentralized applications (Dapps) on Cronos come on board, there will be a ton VVS Finance can play by offering collaborations through their protocol (such as new farming pools), and perhaps even build on further functions like how Raydium did their acceleraytor launchpad at the Solana ecosystem.
It will be interesting to watch how VVS Finance performs, being the “first farm on Cronos” develops, and how Cronos chain will develop in comparison with its more mature peers such as Ethereum, BSC and Solana.
If you are looking to sign up for a Crypto.com account, you can use this sign up link and get USD25 when you sign up. Referral code: 4at7p6an8r
Featured Image Credit: VVS Finance
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